Pros
Let's be honest Barracuda makes money. And they give stock options... well stock option. If you stick around forever and smile a lot. If your really good at smiling they'll promote you. If you are good at your job and for some reason can't get a job elsewhere here in the Valley check then this is a good place to wait. Really the biggest "Pro" of Barracuda is if you work for another company that they buy out and then can dumb done everything.
Cons
The pay is horrible, there are no real perks, it is a cult of personality much like Apple except without the verve and intellectualism and without the cool new building. We work in a penitentiary. Management is like working for Dustin Hoffman in Rain Man. Yeah they seem to make money by gambling and not getting caught but you question whether or not they should be driving motor vehicles some time. We do have plenty of liquor in the office and great equipment to work on except that last part isn't factual. Most competent engineers (and there have been some brilliant ones) are "acquired" from another start-up and then get annoyed and leave. For the most part the talent is marginalized and the bulk are very unskilled at their professions. Very unskilled. Barely script kiddies.