Failure Analysis
Incita's death was a textbook case of macroeconomic headwinds overwhelming execution. The company launched in 2018, the same year Turkey entered a currency crisis...
Incita \Turkey
Incita was a Turkish startup that operated from 2018-2022, likely in the enterprise software or business intelligence space given the name's Latin root ('incitare' - to stimulate/motivate). The company appears to have targeted the emerging Turkish digital transformation market during a period of significant economic volatility and currency devaluation. With corporate backing rather than traditional VC funding, Incita likely pursued a B2B SaaS model aimed at helping Turkish enterprises optimize operations, employee engagement, or data-driven decision making. The 'Why Now' was Turkey's push toward digitalization and the government's Industry 4.0 initiatives post-2016. However, the company faced the perfect storm: operating in a market with limited purchasing power, during a period when the Turkish Lira lost 60%+ of its value against the dollar, while competing against established international players who could offer more mature products. The corporate structure suggests this may have been a corporate venture or spin-off that failed to achieve product-market fit before the parent entity pulled funding during Turkey's 2018-2022 economic crisis.
Discover the reason behind the shutdown and the market before & today
Market Analysis
The Turkish B2B SaaS market in 2024 is dramatically different from 2018-2022. The currency has stabilized (relatively), inflation has moderated to ~50%, and a...
Startup Learnings
Emerging market SaaS requires currency hedging from day one—either price in dollars/euros with local payment rails, or build a cost structure in local currency....
Market Potential
Turkey's digital economy has grown significantly since Incita's failure. The TAM for B2B SaaS in Turkey is now estimated at $2-3B annually, driven by...
Difficulty
Building a B2B SaaS platform in 2018-2022 required significant custom development, infrastructure management, and sales cycles of 6-12 months. Today, the technical barriers have...
Scalability
B2B SaaS in emerging markets faces inherent scalability challenges. Incita likely struggled with: (1) High customer acquisition costs in a market with limited marketing...
Rebuild & monetization strategy: Resurrect the company
Execution Plan
Phase 2
Week 3-4: Add 3 more critical documents (commercial invoice, packing list, CMR transport document) and integrate with DHL/UPS APIs for automatic shipment tracking. Recruit 5 beta customers from initial interviews, offer 50% discount for 3-month commitment and feedback. Build simple dashboard showing shipment status and document history. Validate that customers use it for 80%+ of their shipments (proving it's a painkiller, not vitamin).
Phase 3
Week 5-8: Implement AI pricing advisor that analyzes competitor pricing (web scraping + GPT-4), currency trends (forex APIs), and historical customer data to recommend optimal pricing for quotes. This becomes the 'aha moment' that drives expansion—customers see 3-5% margin improvement. Add Slack/WhatsApp notifications for shipment delays using Trigger.dev background jobs. Reach $5K MRR from 10-15 customers at $300-500/month, proving unit economics work.
Phase 4
Week 9-12: Build network effects moat by creating a 'verified supplier directory' where ExportIQ customers can showcase their export track record (on-time delivery %, volume, certifications) to potential EU/US buyers. This creates a marketplace dynamic where buyers can discover reliable Turkish suppliers, and suppliers are incentivized to use ExportIQ to build their reputation. Add referral program where existing customers get 20% commission on new customer revenue for 12 months. Expand to adjacent verticals (automotive parts, food) using same playbook. Target $20K MRR and 40+ customers by end of month 3, then raise pre-seed from Turkish VCs (Revo Capital, 500 Istanbul) to scale sales team.
Monetization Strategy
Hybrid model combining transaction fees and SaaS subscriptions. Tier 1 ($299/month): Unlimited document generation, basic shipment tracking, email support—targets companies doing 20-50 shipments/month ($5-15M annual exports). Tier 2 ($799/month): Everything in Tier 1 plus AI pricing advisor, advanced analytics, priority support, API access—targets companies doing 50-200 shipments/month ($15-50M annual exports). Tier 3 (Custom): White-label solution for large exporters ($50M+) or freight forwarders who want to offer ExportIQ to their clients, priced at $3K-10K/month based on volume. Additional revenue from per-shipment fees for premium services: expedited customs clearance assistance ($100-300), compliance audit ($500), and currency hedging recommendations ($200). The key insight is aligning pricing with customer success—companies pay more as they export more, and the AI-powered pricing advisor directly increases their margins, creating a clear ROI story. Target 60% gross margins (vs. 20-30% for traditional export services) due to software leverage, with CAC payback in 4-6 months through relationship-driven sales. Expansion revenue comes from cross-selling to other departments (finance team wants currency hedging, procurement wants supplier management) and geographic expansion (same product works for any emerging market exporter to developed markets).
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