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WebP : New Image Format By Google

Size carries a major importance in web design as it determines the users browsing experience. Web designers always tend to reduce the size of any webpage, while maintaining the quality. Lighter a webpage is less time it will take to load.  And not only for better browsing experience but recently Google took into account, the loading time as a governing factor for determining the pagerank of any website.
The elements which contribute lot when it comes to size are images and videos as they have larger sizes than other elements. Taking this into consideration, Google has now released a new image format WebP of its own which aims to be the best choice for web designers.
Google has now set his feet in image processing industry which seems to be a direct competition with most popular JPEG image format. The format carries better quality / compression features, and Google has shown that the new WebP offers the same quality but with 65% less weight.
Google now wants to work in multi-dimensions and is releasing new services of and on to provide better user experience. Google has already developed WebM for video formats.