It takes more than baby boomers know to get through to the Millennial generation. The old way of doing business is being reconstructed by 30-year-old entrepreneurs like Billy McFarland. McFarland is that online entrepreneur that flipped the advertising industry on its head when he founded Spling four years ago.
Spling is an online ad platform that uses photos instead of words to promote products and services. Spling was based in Philadelphia, but Billy moved the corporate headquarters to New York City. McFarland was born in New York City, but he was raised in Short Hills, New Jersey. Short Hills is just across the river from New York.
Billy McFarland made a big impression when Spling got off the ground. Investors started calling him, and the business world embraced him with open arms. McFarland is not the type to sit around and stay content in one business. While having dinner with friends in 2013, the conversation that night prompted another McFarland idea.
Billy decided to start a social club that attracted Millennials that worked in the fashion, tech, and financial industries in New York. He called his new idea, Magnises, and he went to work developing the concept.
The concept is simple. Millennials pay a $250 annual membership fee, and they receive a black Magnises card that resembles a black American Express card. Billy and his Magnises investors formed partnerships with companies that wanted to attract Millennials with cash to spend.
The back Magnises metal card gave them special perks like discounts on branded merchandise and reservations at the trendiest new restaurants in New York. Even nightclubs offered Magnises members entrance to their exclusive party places.
Magnises was a hit in New York City, so Billy expanded the concept to Washington, D.C., Chicago, and San Francisco. There are more than 12,000 active members now, and that number grows every day.
According to Crunchbase, Billy McFarland is only 24-years-old, but he well on his way to achieving what few businesses could do over the last decade. He has Millennials eating out the palm of his hand.