This article attempts to unravel the current scenario in online publishing. Advent of internet has brought with it tremendous changes in the publishing industry. What was hither to an industry dominated by publisher has been thrown open to one and sundry. Online publishing has brought with it a reach which was hitherto never been imagined. In the normal course it wouldtake atleast a year to publish a manuscript. Online publishing has managed to bring this time down to a few weeks / at most a month. This article attempts to discusses the positives andperils of online publishing scenario.