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Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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Didi to delist from NYSE

China-based ride-hailing giant said it plans to delist from the , following pressure from Chinese regulators.

Didi, which made its NYSE debut just five months ago, plans to pursue a聽 Hong Kong listing. Shares were down sharply in pre-market trading in the wake of the news.

— Joanna Glasner

Grab shares fall following SPAC merger completion

Shares of Singapore-based , the Southeast Asian ride-hailing, delivery and commerce “superapp,” fell more than 20 percent in their first day of trading on following the completion of a merger with a special-purpose acquisition company.

— Joanna Glasner

Funding rounds

LingoAce raises $105M Series C: Singapore-based , an edtech startup known for its Mandarin Chinese language learning platform, announced it raised $105 million in a Series C funding round led by . The company also announced it raised a previously undisclosed $55 million Series B round less than a year ago, led by and .

— Joanna Glasner

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