Again,this logo, and the company's name, Blue, is intended to represent simplicity and freedom (i.e. in reference to the color of the sky above us) in the blue's mobile computing field. Based on the last comment, i have done a few tweaks. Please, i am open to any opinions and comments.
Alex K
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I think it's cool. Bring the balloon closer to the type perhaps? And let the string be off the ground, otherwise it feels like it's been tied to the ground.
Also you can modify the typeface to be a bit more interesting. For example you can round the bottom left corner of the b. It will be more harmonic with the rounded shape of the balloon. You may also want to try to rotate the "e" a bit to make it more dynamic. Not sure about this one...