Google Web Designer is design and development tools for creating interactive HTML5-based motion graphics. The tool looks like it's targeted at advertising creative. It provides templates for banner ads, which makes sense, but can be used for generating any canvas motion graphics. The default layouts are for DoubleClick and AdMob mobile ads.
Looks really useful, and not sure how this will affect other tools in the same category. I just started using Hype myself, so I'm paying attention.