TinyPNG is a cool webtool that uses advanced lossy compression techniques to further reduce the file size of PNG files without any visible quality loss.For websites that require images that are small in size, the PNG format is usually the best format. But certain files in the PNG format still can be large, they can be further compressed using this free online called TinyPNG.
To do this, visit the website tinypng.com. Drag the desired file from your Windows Explorer and drop it in the top area that says “Drop your .png files here!” or click on the same area to select and “Open” the desired file via a window.
The selected file will then be uploaded to the web service and optimised there. After a few seconds or minutes, you will receive a Download link and a reference to the saved size. While downloading, be careful so that the original file with the same name is not overwritten.
Compare the picture quality in an enlarged view with the original since the compression by TinyPNG is not lossless. However, differences will hardly be noticeable.Usually very small PNG files can be shrunk even further with TinyPNG without any loss of quality.Also the developer has launched a photoshop plugin of this product for $35.
Update [20/4/2015] : Now this webtool also supports JPEG images.
My view about TinyPNG:
For images on Techno360, earlier I used the web version and now this service is available as a plugin for WordPress based websites/blog. With my experience, I can say the tool saved a lot of data or reduced file size without much loss in quality.
If your website uses many images to convey the content, then according to my opinion this is a must have plugin to load your website. Website loading speed is one of the key element of SEO , now Google is ranking websites based on loading time of the page.
This web tool/ WordPress plugin is very efficient in compressing PNG & JPEG images, WordPress based bloggers can get install TinyPNG plugin either from their website dashboard or form WordPress plugin directory.