NY’s Magnises brings millennials the much-coveted “experience”
The Pretty Good Life
Millennials want experiences, not stuff, or so every marketing report out there would have us believe.
New York’s Magnises offers the most-elusive demographic just that, offering access to private dining rooms, exclusive parties, and clubhouses to meet, work, and network. And for a certain species of New Yorker, the price they pay – $250 per year plus fees for those events and perks – is more than worth it.
When Magnises launched in 2013 by serial startup guy Billy McFarland, it was declared the “American Express Black Card for Millennials”. Though that’s not entirely accurate – the Magnises membership card isn’t an actual credit card; rather it connects to an existing credit or debit card.
Today the company emphasizes the curated experiences they offer members; the card is more of a conversation starter, Grant Margolin the VP of marketing and brand development at Magnises, told us.
Magnises is one of the growing number of lifestyle or community-focused startups, offering members access to amenities and friends to share them with – at a price. They’ve been compared to real life social networks.
And the business has certainly hit a nerve. The company is active in Washington DC and New York and plans to expand to San Francisco, Chicago, and Boston soon, said Margolin. While he won’t reveal the specifics on member numbers, he says there are “tens of thousands” and “demand has been high.” While Magnises strive for diversity in gender, age, and profession, the members are “self selecting,” and they’re mostly millennials, said Margolin. Naturally there’s a waitlist.
In New York City, Magnises hosts about 3-5 events a week independently and sponsored by brands like Samsung, Tesla, and Johnnie Walker. Their “digital concierge” mobile app helps members get help with “the most challenging things in your everyday life that you need to do that takes time,” like finding out what’s going on tonight.
Magnises also offers members access to various clubhouses including the lounges at the Wayfarer and Gansevoort Park hotels, where members can take business meetings, freshen up before going out, grab a drink with other members and work and network. For $100 more a month Magnises offers members access to Alley, a community-oriented coworking space with three locations in Manhattan.
It’s all about “helping members unlock their city and maximize their time,” said Margolin.
You can learn more about Magnises right here.
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