Webzines, also known as e-zines, eBooks, or online magazines, come in as many forms and genres as print magazines. There are online magazines devoted to news and politics, to literary work, to science fiction and fantasy writing, to e-publishing, and to nearly every sort of specialized subject you can imagine. The same guidelines that apply to submitting to print magazines also apply at these magazines, except that postal charges and SASEs are not involved.
For a discussion of the pros and cons of publishing online, check out the Online Vs. Print Desktop Publishing Guide.
Some great online magazines are:
Salon.com
The Nieve Roja Review