Please have something that's refreshing, has an element of technology, perhaps something that signifies culture - not sure what that is? people maybe? I looked at some of the logos on logo tournament under "internet" category and liked a few entries and concepts. Overall the logo needs to be trendy, new, colorful and high impact.
I am giving some examples here but please don't copy these or come up with something close to these logos, I am simply including these here to give you an idea of what appeals to me. I do recommend you look at these logos to get an idea of what kind of work I like:
http://logopond.com/gallery/detail/20398 (Like the creativity and fun element)
http://logospire.com/logos/3453 (love to creativity in this one)
http://logospire.com/logos/2901 (creative)
http://logospire.com/logos/3055 (High impact)
If you think you can do better than these logos, great! I would love to see your work.
IMPORTANT: Please DO NOT submit different variations of the same design. If I like your concept I will ask you to tweak it and make the necessary changes. Only submit more than one design when they are different from each other in concept, look and feel.