Moving out of its beta testing, Brazilian start-up Compra3 is launching its comprehensive group buying site 'exclusively' in the Brazilian market for the present; with plans to expand the site to the US and Spain.

Having developed a road-map for the business as well as the website, Compra3 closed a $1.2-million seed funding round last year, with participation from Brazilian investors Carlos Nissel and Daniel Tinoco, along with New York business angel investor, Michael Nicklas.

Already, the group buying site of Compra3 - which entered into some strategic business deals with leading retailers like Wal-mart and Lojas Americanas last year - boasts over 100,000 users, and offers nearly one million products that are offered online in Brazil. With the inclusion of social networking features, co-founder Bruno Medeiros is hopeful that the numbers are in for a substantial increase sooner than later.

The social networking features of the site further enhance its business model by including customer profiles; and enabling the users to view recently-purchased products and recommended products. The site also integrates with Facebook, Twitter, and other social media networks, to allow the users to vote and comment on the recommendations of others.

The unique model of the site functions in such a manner that an increasing promotion of the products bought via social networking boosts the likelihood of a drop in prices of those particular products.