Images often delay the load time of a webpage. To reduce the webpage load time, optimizing image is a good solution. Although optimizing images can degrade image quality, but it reduces the webpage load time significantly which is definitely more necessary than a high quality image.
Now here is something I found worth mentioning. Named as Online Image Optimizer, it is an online tool which can optimize images as well as convert images from one format to another.
The interface is as simple as it could have been. Just head to the Online Image Optimizer webpage and upload the image file you wish to optimize. Alternatively, you can also insert an image link instead of uploading an image file from your hard disk. Now just select the output file format (GIF, JPG or PNG) and click on optimize button to see the result.

You will be presented with many image replicas, each optimized/reduced by certain percentage. Choose the best one and use it.
Online Image Optimizer works pretty well. Give it a shot. Use it as an optimizer as well as a converter.
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Online Image Optimizer: Optimize Images for ‘reducing image load-time’ a.k.a ‘faster loading’- http://tinyurl.com/n64v4n
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