Ask HN: Logo design competition?

I need a logo for my startup (www.criticue.com). Because the service is for web developers, I really want the logo to shine.

(I know -- the design of the website sucks; it's merely a prototype.)

Anyway, I'm looking for feedback from ppl who have run a logo design contest via platforms such as 99designs.com or designcrowd.com (they seem to have the best designs so far).

What is your experience? Is this the right path to take? Or should I hire one good designer/agency? How does the prize influence the quality? Finally, is it better to hire the same designer for the website design and the logo?

I'd love to get as many opinions as possible before spending upwards to $1000 on the logo. Thank you for your help.