Pros: Free coffee and snacks, beer and food on Friday. Get to work on latest technology.
Cons: The management absolutely has priorities incorrect. There seems to be no structure or communication between the levels. When there is praise to be shared, the managers seem to pat themselves on the back, when there are delays, the managers seem to blame the lower ranks. The company also believes in asking employees to work over time and encourage weekends if they are behind schedule, without pay (unless you count a slice of pizza).
The company seems to have internal problems playing favoritism. They are not shy about excluding you socially and professionally if you are not "one of them" making it really hard to professionally grow within the company or be heard. They do not seem to hesitate to promote someone they favor but for everyone else will offer 0.5% yearly raise on an already under-paid position and call that fair.
The company's strategy seems to be to sucker in young blood with promises of working for a great progressive company that will treat you well and then dangle it in front of you until you realize it too late and leave at which point they will just replace you with the next young blood. I've seen too many colleagues leave in a similar manner. Stay far away.