It depends on the page content. A 20-page document with mostly text can usually reach 1MB at moderate compression. A 20-page PDF with full-bleed photographs may need heavy compression to hit 1MB, which can reduce image quality visibly. The compressor will warn you if aggressive settings were applied.
Will the text be selectable or searchable after compression?
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The compression strategy renders each PDF page as an image and puts it in a new PDF. The output is essentially a "flattened" PDF — text is visible but is rasterised and not selectable or copy-paste-able. This is the standard trade-off for browser-side lossless-to-lossy PDF size reduction.
Is my document private?
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Completely. Compression runs in your browser using pdf.js and pdf-lib. The PDF is processed entirely in your browser tab's memory and is never sent to a server.