Stoyan Stefanov and Nicole Sullivan, two Yahoo developers have made image optimization easier than it was ever before. Smush it is their brain child. It is a free online tool for lossless compression of JPG, PNG, GIF files (including animated).

So all you need to do is just go to their site and upload your image file. Then they will smush or optimize the pic for you within seconds and provide you with a download link in zip files and also tell you the exact percentage of optimization.

Let's take a detailed look at it.

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