From the press release:
Wattpad, the world’s most popular ebook community, and Smashwords, the leading ebook publishing and distribution platform, have announced a partnership that will open up new publishing opportunities for thousands of indie authors.
Under the terms of the agreement, Wattpad and Smashwords will cross-promote each other’s services and have added integration so that Wattpad users can sell books via Smashwords and Smashwords authors can promote free works on Wattpad, including, works-in-progress, complete works, or serial ebooks on Wattpad.
Wattpad operates a social network for writers to connect with readers and share what they have written. Wattpad receives over 10 million visits a month and many of the stories on Wattpad have millions of reads.