WebP

WebP is an image file format developed by Google, and supposed to be a new open standard for lossily compressed true color graphics. It's a direct competitor to JPEG.

See the reference side-by-side comparison Common image file formats

	WebP
Pros	Small file size (Smaller than JPEG with comparable image quality)
Cons	Lossy compression
Features
Lossless	No
Animation support	No
Transparency support	No
Layers support	No
HDR
Developed by	Google
Commonly used for
Browser support (without plugin)
Google Chrome	Yes
Microsoft Edge	Yes
Safari	- Partial support
Firefox	Yes
Opera	Yes
Internet Explorer	No
Additional
File extensions	.webp
Wikipedia	http://en.wikipedia.org/wiki/WebP