Caught this at The Millions, sounds fascinating.
The Facebook Book | The Outlet: the Blog of Electric Literature.
My new book, For My Next Illusion I Will Use Wings, will be published in print in Hebrew in a couple of months. But at the beginning of January 2012 I decided to try something new, and published a free digital copy of it on… Facebook.
The idea of publishing an entire new collection of very short stories on Facebook was, in part, an experiment to see how literature can become more social. The digital format has enormous advantages for the reader; but most of the time digital formats still try to imitate the experience of reading a book in print (paging, bookmarks, virtual bookshelf, etc). I wanted to see if it could be different: how literature could evolve if the reader can see who of his friends likes the same stories, who is sharing the stories he shared with others, how does the book endure with readers’ comments on every page, visible to all.
Akopos 
The interesting thing about this is that I know at least a few social media forums where people post stories and the reader can comment on it.That’s been around for a while. Maybe this is just his first foray into it?
Good point, Tim. I think the main angle is that since his stories are so short, they are able to function as complete pieces of microfiction rather than just parts of a serial novel, a form that effectively translates to the web format. Also that the author is releasing a digital version of a traditionally published book.