Pros
Free Friday lunch. Opportunity to achieve a lot quickly. Little to no red tape to jump through. Most team memebers are pleasant to interact with. If you like being left alone to code in a library like environment, this may have some kind of appeal.
Cons
Rigid schedule of 8:30-5:30. Flexible scheduling in the sense that you can come in anytime before 8:30 and leave anytime after 5:30. Codebase/technologies used looks like it was written in the 90's and the coding standards came with it. There is no career pathing available. The primary method of advancement within the company appears to be largely through attrition. Inexperienced leadership drives poor design, principle, and general discontent within the development teams. Lack of understanding the implemention of the product's requirements is a huge issue. Requirements rarely ever have any face-to-face discussion that includes developers.