From the announcement:
The Smashwords catalog of original indie ebooks surpassed 10,000 yesterday. With your help, I think we can hit 25,000 by the end of the year. And hey, if we fall short and hit 20,000, it'll still blow a lot of people away, myself included.
10K is a huge milestone, not only for us as a business but also for the entire indie movement. Indie authors and publishers will inherit the future of publishing. I'm convinced of it.
What was once called the slush pile - the unpublished manuscripts languishing on the desks of literary agents and acquisition editors - is now moving online. Authors are bypassing the slo-mo business practices of the past in favor of instant publishing.