potential investors

The company's revenue in its latest quarter ending in June surged 46 percent from last year to $2.54 billion while its earnings climbed 60 percent to nearly $1.2 billion, after subtracting a one-time gain and certain other items. Alibaba has been meeting with potential investors over the past week, and demand spurred the increase. Alibaba is expected to be priced late Thursday and start trading Friday under the ticker 'BABA' on the NYSE. The fundraising target eclipses the $16 billion Facebook raised in 2012, the most for a technology IPO. It also would top the all-time IPO fundraising record of $22.1 billion set by the Agricultural Bank of China Ltd. in 2010, according to the research firm Dealogic.

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