JPG is a popular raster format used for web images, especially images that contain many colors, such as photos.
JPG uses a compression method that discards "unnecessary" image info. It is possible to compress a JPG to a fraction of the original size (in bytes) with no loss in picture quality.
Excessive JPG compression can however visibly reduce image quality.
Generally speaking the GIF format is considered better for logos. Especially logos using red and combinations of red and black tend to look blurry in JPG.