Wildfire is launching a Groupon or LivingSocial Deals-style application on Facebook this week, called Group Deals. It’s designed to allow brand Page administrators to set up group promotions on a Facebook Page within a matter of minutes, then get their discount offers shared among friends.

Group Deals works for Facebook Pages and via Facebook Connect like the others — group discounts require a minimum number of participants in order to be profitable for the business, and Facebook provides distribution to make that happen.

Wildfire’s product costs at least 99 cents a day to run, and provides a variety of pricing and customization capabilities. Setting up a Group Deal on Facebook via the Wildfire social application wizard is designed to be fast and simple, requiring three parameters: the value of the deal, the critical mass of takers needed for the deal to activate and the time period during which the deal will be valid.

Brands may also link a Group Deal to an e-commerce service  on their web site.

PayPal will administer the transactions on Facebook. Part of this integration allows buyers to receive reminders to recruit friends to the deal, be notified if the deal activated and also provide buyers with instructions on how to redeem a deal.

Wildfire raised $4.04 million earlier this year, right after it had rolled out a sweepstakes service on Facebook after partnering with Publisher’s Clearing House. For more information about social promotions on Facebook check out the Inside Facebook Marketing Bible.