(NASDAQ: MELI) may not be a household name where you live. But that's probably only because you don't live where it operates. If you were a resident of South America, you most definitely would have heard of it. There's even a good chance you'd be a customer. After all, it's often referred to as the Amazon (NASDAQ: AMZN) of Latin America specifically because it's got such a ubiquitous, Amazon-like presence there.

Just because you're not a resident of its geographical market, however, doesn't mean you can't tap into growth potential. Indeed, investors outside of South America may want to make a point of plugging into this growth stock if only to add some regional diversification to their portfolio. Of course, it doesn't hurt that MercadoLibre shares are also bringing some Amazon-like potential of their own to the table.

The comparison to Amazon is a fair one, although it's arguably incomplete. MercadoLibre is also a payment middleman and an e-commerce/online auction platform. It's just as accurate to say that the company is akin to both PayPal (NASDAQ: PYPL) and eBay (NASDAQ: EBAY).

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Source Fool.com