Compressor.io is a powerful SaaS tool that can be used to freely shrink files with minimal quality loss, supporting many file formats, like JPEG, PNG, GIF and SVG.
Users can choose between lossless and lossy compression, although lossless is limited to JPG and PNG, and the strength of compression is not adjustable by the user, because Compressor.io will always try to reduce to the max.
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It is used for online image size reduction.
The main user group of this service are web and blog developers.