Image Format Wars: Google adds Lossless and Transparency mode to WebP
Google has just announced the addition of two new features to its WebP imaging format: lossless compression and transparency mode. WebP's lossless compression promises significant savings over PNGs. More technical details on this at Google Code, along with a gallery of sample pictures for your pixel-peeping pleasure.
The choice of the WebP name may be part of a grand master plan at Google, hoping that comedians around the world will make fun of "WebP", resulting in unprecedented viral promotion of the new format ;-)