VP8 is a video compression format owned by Google and created by On2 Technologies as a successor to VP7.
In May 2010, after the purchase of On2 Technologies, Google provided an irrevocable patent promise on its patents for implementing the VP8 format, and released a specification of the format under the Creative Commons Attribution 3.0 license. That same year, Google also released libvpx, the reference implementation of VP8, under a BSD license.
VP8 is currently supported by Opera, Firefox and Chrome.
Read more about VP8: History, Comparison With H.264, See Also