WebP (pronounced “weppy”) is a new open-source image format, designed by Google, that uses a compression algorithm that produces smaller files than currently popular formats such as JPG and PNG. And smaller image files mean faster loading web pages. Hooray! In order for WebP to take off, however, browsers and graphics software would have to adopt it. Google is doing their part for faster loading web pages by including WebP in an upcoming Chrome release. Learn more at Google or Ask Dave Taylor.
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Feldman, Barbara. "Google Announces WebP." Surfnetkids. Feldman Publishing. 13 Oct. 2010. Web. 23 Sep. 2014. <http://www.surfnetkids.com/tech/626/google-announces-webp/ >.