From the site:
"Books will be chosen for inclusion on the IndieReader site by a panel of editors, literary agents, and marketing professionals, and all categories of books (except for porn) will be represented. There will be a charge for membership; in exchange, authors will get a sales venue and a web page with its own URL. Authors will set their book's retail price and receive 75% of the sales (the buyer will pay for shipping). Authors will have complete control over the editorial content of their sites with no general restrictions on reviews, interviews, video, and audio."
It's a brave new world for entrepreneurship, yo. Via GalleyCat.