Alibaba, the world’s largest ecommerce company, is leading an investment round of between INR 1,350 crore and Rs 1,700 crore in the online retail marketplace of Paytm. Alipay, the payments affiliate of Alibaba, and investment firm SAIF Partners have also participated in the deal which is expected to value the online marketplace — spun out of parent company One97 Communications — at over $1billion.