Description: WebP is an image format employing both lossy and losslesscompression. 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.