WebP format ("Web Photo")
WebP - Wikipedia, the free encyclopedia
"WebP is an image format employing both lossy and lossless compression. It is currently developed by Google, based on technology acquired with the purchase of On2 Technologies. As a derivative of the VP8 video format, it is a sister project to the WebM multimedia container format. WebP-related software is released under a BSD license. 
The format was first announced in 2010 as a new open standard for lossily compressed true-color graphics on the web, producing smaller files of comparable image quality to the older JPEG scheme. On October 3, 2011 Google announced WebP support for animation, ICC profile, XMP metadata and tiling (compositing very large images from maximum 16384×16384 tiles)."