Magnises is an experiential lifestyle startup, which offers millennial and brands a platform to enjoy their social and professional lives offline. With the use of a personalized black card, members of Magnises enjoy a unique experience of both cultural and professional events depending on their interests. This private club offers young professionals access to hottest clubs, special pricing tickets for great sporting events, shows, and concerts in major cities in the East Coast and improved travel bookings worldwide. Originally launched in August 2013, Magnises was an American Express-members only black card, where the information was copied from the already existing card. By 2014, Magnises rapidly expanded its offerings, adding services like VIP club access, hotel discounts, in app-based virtual guide, special hotel menus and private hotel spaces.
Initially, the company used to rent a townhouse in the west village for clients. Later, it moved to a penthouse of the hotel at Rivington on Facebook. Currently, Magnises partners with Jue Lan Club and Mad Men-chic midtown restaurant Wayfarer for spaces. Interested individuals apply for membership where the required fee is $250 annually. McFarland, Magnises co-founder, said that the selection of membership is keen to ensure that there is balance in genders and industries. The company is rapidly growing; it recorded 12,000 members in Washington, D.C. and New York. McFarland said that the company has made investments worth $4 million. It anticipates a revenue of $5 million in 2016.
However, the largest portion of Magnises’ revenue does not come from membership fee. It comes from successful connections between the young consumers and big brands. Magnises earns handsomely when big companies like Tesla, Johnny Walker and Ilegal Mezcal host events for the members. Grant Margolin, Magnises’ brand development vice president, said that since social sites are over saturated with advertisements, Magnises social club becomes a powerful marketing tool. He added that the company improves lifestyle and boost brands through the social events of their members.
The personalized black card is linked to members’ bank or credit cards since it is a payment tool. The concierge app is a reliable tool that acts as a personal assistant for members on elitedaily.com. Through the app, clients access information on experiences within and out of their cities, reservations, restaurants and nightlife suggestions. In addition, they get answers to general questions about Magnises membership. Members have a hotspot where they can go to host meetings, relax or meet fellow members.
For only $99 per month, members of Magnises in New York can access co-working spaces at Alley and desks for about $500 per month. Magnises introduced a ClubPass feature that allows customers to access the most exclusive New York-based nightclubs for $65 a month. HotelPass allows members to stay at all New York locations of Dream Hotel for $79 per night. Customarily, the cheapest Dream Hotel rooms cost $245 a night. McFarland said that Magnises would like to take both social and professional lives of their members to a higher level. He pointed out that the company offers club and hotel brands a platform to expand their services, thus increasing their sales.