Founded in 2013 by Billy McFarland, Magnises was marketed as an exclusive private club for young professionals in major US cities. For an annual fee, members received a black, personalized metal card that cloned their existing credit or debit card, along with promised access to a members-only townhouse, private concerts, celebrity meet-and-greets, art shows, and exclusive parties. The company's business model was based on selling a lifestyle of luxury and access. However, Magnises collapsed in 2017 amidst widespread customer complaints of unfulfilled promises and poor service, and its downfall was inextricably linked to the fraudulent Fyre Festival, also organized by McFarland.

Founded in

United States