This open format has been developed by Google and released in April, 2018. It is designed to make files smaller and faster to load. It's not a secret that search engines prioritizes websites with faster loading times
Make files smaller at the same quality level, reduce page speed loading times and get more organic traffic to your website. Many Big companies has already switched to WebP - Facebook reports 80% data savings compared with use of PNG files
Use AAA Logo Save for Web option to be sure that your WebP logo will be displayed correctly on all devices and all browsers
Unlike other file formats on this list SVG is a verctor file and your image can be resized without losing quality. This may be very useful for a logo image: website users can enlarge your logo to full screen and see crisp and clean lines, not a blurry squares like with raster images. You can be sure that your SVG image will look great on any device: old phone or large hidpi/retina display (and there is no need to add extra HTML/CSS code for this!)
SVG file size can be larger in some cases. You can try both SVG and WebP to see which is smaller and (or) looks better. SVG image will be crisp & clear on any device
Portable Network Graphics (PNG) was released in 1997. It was a standard file format for web images for many years. Today we can use newer generation of image compression like WebP or vector SVG's
JPEG (jpg) format was designed for lossy compression of images like digital photography. It is not suitable for logos with lines, curves and text and sharp contrasts can cause noticeable artifacts