Will Indonesian tech giant GoTo, backed by Richard Li, buck downtrend faced by Grab and Sea?

• GoTo, which mainly serves the Indonesian market, raised US$1.1 billion with shares, making it Asia’s largest and the world’s fifth-largest IPO this year
• But its fortunes can’t be determined by its first week. GoTo is still not profitable, while it has to overcome investors’ scepticism about its business model, analysts say