AppLovin CEO once spurned by VC firms now worth $11 billion

When AppLovin Corp. co-founder Adam Foroughi pitched his fledgling ad-tech business to Bay Area venture capital firms more than a decade ago, he was rejected by every one. He got the last laugh. Shares of Palo Alto, California-based AppLovin have surged seven-fold this year, giving Foroughi a net worth of $10.9 billion and vaulting him...