Rollup.js is a module bundler for JavaScript which produces smaller bundles than other bundlers by eliminating unused code. It supports various module formats including CommonJS, AMD, ES2015, and UMD. While it is still evolving, Rollup.js aims to bundle code as efficiently as possible by removing dead code through tree-shaking and handling cyclic dependencies. It works best with ES2015 modules and requires a transpiler like Babel when using newer JavaScript features.