Pros
Super casual with a pretty nerdy atmosphere. Not a whole lot of rules and regulations to get you down. Nerf guns and toys abound. There are chances now and then for recognition. There are some staff who are wicked smart. Lots to learn. Be prepared to show leadership, teach as well as learn.
Cons
There is a near-constant revolving door of talent. This is a small shop, about 50 people, and there's one person resigning every month, usually for higher salary somewhere else. Every department is usually understaffed. It's very hard to maintain momentum with so much talent walking out. For a web development shop, there are very few actual web developers. ~~ The people in the two top positions are married. This makes for an odd conflict of interest. ~~ Overall high level of stress. Some staff are overworked due to skeleton crew. ~~ Blame and panic can sometimes crop up unnecessarily. There is regular bending-over for the sake of keeping a client from leaving, letting them walk all over the company. Much revenue is left on the table due to project mistakes and inconsistent billing.