A WEBP file is a raster image format developed by Google for online graphics called WebP. The WebP format compresses files more efficiently than typical JPEG compression while preserving picture quality that is comparable to or greater than that of JPEG. Like the PNG format, it enables both lossless and lossy compression.
Google has made aggressive claims regarding the format's compression efficiency, claiming that it may be up to 34% cheaper than a JPEG or PNG file. Because of the large number of photographs being seen at any one moment throughout the world, Google believes that by adopting a more effective image format, the web's overall performance may be optimized.