In case you missed the news, there's a critical 0day in WebP (a heap buffer overflow in the libwepb library) floating about, which was initially issued as
chiisana
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51Y

If memory serves, one of the main selling point that was presented was that WebP was able to compress an image better while retaining more visually relevant information than JPEG.

It has better compression than libjpeg, but that’s not due to the file format. There are other JPEG libraries that give similar or slightly better results than libwebp.

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