WebM
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WebM Project is a Google initiated project dedicated to create a video format for the web that is open and available free to everyone. It's open sourced under the BSD License. It consists of the VP8 video codec developed by On2 and the Vorbis codec for audio, in a Matroska media container.
It was announced at the Google I/O 2010 conference and supported by Mozilla, Opera and Google at launch.
External links
http://www.webmproject.org/ - Project homepage