Nothing in cyberspace is sacred
CNet revealed the format with a story late this morning, and Google soon followed with a blog post describing the technology, which has been released as a developer preview. WebP is derived from VP8, the video codec Google acquired with its purchase of On2 Technologies earlier this year and promptly open sourced as part of the new WebM format.
According to The Register blog, “It’s no secret that Google is on a mission to make the web faster — in any way it can. The faster the web, the more cash Google rakes in. WebP is yet another speed play, with Google claiming that images and photos make up about 65 percent of the bytes transmitted per web page today.”