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
Developed by	Google
Year	2010 (lossy) 2011 (lossless/alpha/animation)
Pros	Small file size (Smaller than JPEG with comparable image quality)
Cons	Limited to 8-bit. Lossy forces 4:2:0 tv-range YCbCr.
Features
Vector graphics	No
Raster image	Yes
Lossless	Yes Lossless and lossy
Animation support	Yes
Transparency support	Yes
Layers support	No
HDR	No
Maximum bit depth	8-bit
CMYK support (for print)	No
Maximum number of channels	4 (RGBA)
Commonly used for	Images on the web
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