Billy McFarland is a 24-year-old CEO who is the founder of Magnises. He states that Magnises is a community that powers and adds value. Young professionals that want to meet other professionals find the card critical. The company has partnered with other brands for offers and special events. Businesses that want to access young professionals to make them future customers have found the card helpful for future clients.
McFarland business model follows a creative and innovative approach. The company always hires the best people to come up with new features and products. One strategy that has helped the business grow is focusing on community growth and development.
The whole Magnises idea is less about having the card and more of the community. This has seen Magnises acquire more than 10,000 members within Washington D.C and New York City.
When asked about his biggest failures with the card, Billy McFarland notes that his path to success could never have been possible without business failure. Most of the products he started have ended up as failures. He is a big believer of coming up with 10 to 20 ideas every single and sticking with very few of them.
According to Crunchbase, Billy McFarland is the former CEO of Spling. He talked about the business model and why he decided to focus on a new approach. Having started in Philadelphia, he left the city to start new ventures in New York City. He stated that the reason for moving to NYC was to enable him achieve success with the card.
At the end of the day, what mattered with his business model was in the volumes of sales. Most of the Magnises investors were located in New York City and had a good portion of portfolio of companies at that location. The company was also targeting the best talent in the city. Luckily Magnises card has found the best talent to help the business model grow.