Simpler the better. Just typeface, no icons, no pictures of clouds and webs etc. It's a parent group icon, so it's more business-focused. The logo will go everywhere, top of webpages, stationery etc.
The brand ideally conveys establishment, stability and trust. Designers might like to play with the idea of an 'old' style name in a brand new industry.
Incorporating a traditional feel, playing upon the old-style name, might be an interesting way in which trust and establishment can be conveyed.
At the same time we don't want a totally old world feel. The challenge might be to make the most of the old style name, at the same time as hinting to the fact that this is in fact a cutting edge web 2.0 style company. The name itself already reflects this fact in some ways, so the logo should seek to reinforce it.
You may use Cloud and Web, or replace the 'and' with an ampersand, Cloud & Web.