It has a collection of free online book to read, but it delivers the content in a quite unique way.
You register to recieve the book of your choice, then that book is split into lots of small sections which are then emailed to you or connected into your own personal RSS feed. You can set how often you want to receive the sections.
As they say on their FAQ:
“…if you are like us, you spend hours each day reading email but don’t find the time to read books.
DailyLit brings books right into your inbox in convenient small messages that take less than 5 minutes to read.”