Pros
Free food. Flexible time. Good co-workers. That's really it. It's a facade but up to make the company look better than it really is. If you are lower down on the chain, it's probably not a bad place to work but as you move up, the problems start.
Cons
Much of the cons others have noted are true. Management is lacking. Workload is unbearable. It starts at the top and when the CEO is a bully and thinks he can do everyone's job better than they can there is a problem. Unfortunately, this used to be a good company. However, once it grew past a certain point, it started to go downhill. The investor funding was the big killer, or at least the timing of when things started to really go bad. The change in product direction has hurt everything from customer relations to development. The company is floundering and will fail unless something drastic is done and that probably means limiting what the CEO can do before he guts every department.