The WebP Image Format was started in September 2010, WebP was proposed as an alternative to JPEG, with 25–34% better compression compared to JPEG images, Google finally upgraded its WebP Image Format and now on average, we get a 45% reduction in size when starting with PNGs found on the web, and a 28% reduction in size compared to PNGs that are re-compressed with pngcrush and pngout.
sample images in the WebP-Gallery
“Last month we announced WebP support for animation, ICC profile, XMP metadata and tiling. Today, we introduce a new mode in WebP to compress images losslessly, and support for transparency – also known as alpha channel – in both the lossless and lossy modes,” JBy Jyrki Alakuijala, Vikas Arora, and Urvang Joshi, Software Engineers, WebP Team
The higher quality of the images compressed via WebP, either lossy or lossless, compared to GIF, the new image format, once it gets standardized and supported, should be favorite for anyone now using GIF simply because it also supports animations, At the moment only Google Chrome and Opera support WebP Image Format (older version).