The logo will be used on our website, on web enabled Smartphones, on business cards, on stationary, and on clothing. It would be a bonus for the logo to have an avatar that looks great as a 16x16px Favicon.
The design will need to be easily identifiable both in color and in gray scale.
The color version can be bright and bold, but it must be tasteful and distinctive. Using web 2.0 effects is okay, as long as the design works in color and gray scale.
We are a young company (18-35 years age range), so the look and feel needs to reflect our youthful energy! http://www.bootb.com is an example of how this has been achieved by another company, Boot B.
Please do not try to match the logo to our current website theme as the design and colors are going to change. The logo design will influence our final theme for our new website... brand presence is critical.