Squoosh, an online service that adds new features to browsers, was unveiled during the ongoing Google Chrome developer conference.
Squoosh is an online image converter. Converts images you upload to the service in any format you want. If you think there are many such services in the Internet, Squoosh is not designed as a competitor but as a showcase for new Web technologies.
The service works in parallel with many modern browsers, not just Chrome. 
Squoosh takes an image and converts it to one of the supported formats. The process is automatic and happens locally after the app is added to the browser.
The application supports OptiPNG, MozJPG, WebP and Browser PNG, JPG and WebP formats. There are options for resizing the image or for many others regardless of the selected format. After the conversions you selected with a click of the download button you can save the image to your system.
Squoosh is an open source tool from Chrome labs. The app runs on desktop and mobile browsers and collects data using Google Analytics. His page project on GitHub states that it collects the original and edited image size, along with the "basic visit data".
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