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WebP is an image file format which contains image data with both lossless and lossy compression. Developed by Google, WebP basically is a derivative WebM video format. The format is capable of reducing image file size up to 34% smaller than JPEG and PNG images while retaining high-quality. The compression process of WebP images is based on the prediction of pixels from their surrounding blocks. This allows pixels to be used multiple times in a single file. WebP format also supports animated images and expected to support more features in the future. It is still under development of Google and has great prospects to be utilized on the Internet for image sharing. WebP image format runs great on PaintShop Pro.