Pros
The people, including ownership, are good people. Tech and process is very good. Management is generally hands off. Extremely casual environment. Good benefits. A dream job for a 20-something. If you're just focused on doing decent work and having fun then this is a 5-star company.
Cons
There's a maturity gap. Ownership still runs things like we are a scrappy startup (less now then before to be fair), and we're not, and I'm not sure that will change until they take a less active role. Sometimes "relaxed" culture devolves into frat house antics which may make some employees uncomfortable. Nepotism is an issue as well, especially in senior positions. One gets a sense that there are certain employees that have a lifetime pass with no accountability. Ownership seems to avoid difficult issues. Career advancement is difficult due to entrenched senior employees.