Billy McFarland is a 25-year-old American tech entrepreneur. He was born in New York City and raised in Short Hills, New Jersey. His entrepreneurial skills became evident at the age of 13. It was at this age he founded his first online company. The company dealt in online outsourcing and matched clients with the right designers. Briefly, he went to the University of Bucknell, Pennsylvania and undertook a degree in computer engineering.
Today, McFarland has been instrumental in the foundation of Spling and Magnises black card companies. Spling was founded towards the end of freshman year in college. He left school and opened an online platform that allowed users to improve the appearance of URLs. Changing the appearance of text into graphic images which are organized as mosaics was made possible by a computer program he had coded. He is still the chief executive officer at Spling.
According to The Guardian, towards the end of August 2013, Billy McFarland founded Magnises. Together with his team, he launched the Magnises black card on 1st March 2014. Magnises black card is community and technology based and offers perks, guidance, and improves the quality of life for the card holders.
The introduction of the card is purposely for the millennial generation who are less financially endowed and would like to enjoy life in most of the classiest joints in New York.
However, Magnises black card is not a credit or debit card. It does not link to any financial institution. Instead, it links data from an existing financial card to the strip of the black card. It can, therefore, get used in place of the original debit or credit card. Cardholder pays an annual fee of $250. It has no spending requirements.
Members get to enjoy the benefits of owning this card by receiving discounts. They can enjoy dinner and get to spend nights in selected hotels in the city of New York at subsidized prices. They are treated to night life’s in selected clubs in the City. The company has launched a mobile application that allows the users to get updates on events taking place around the city.