AppLovin has rocketed to a $100 billion valuation. Some industry insiders are skeptical its run can last.

AppLovin has rocketed to a $100 billion valuation. Some industry insiders are skeptical its run can last.

Adam Foroughi/Applovin, Tyler Le/BI

Shares in the mobile ads and gaming company AppLovin have been running wild — and advertising industry insiders have a lot of questions.

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