Pros
The free food and drinks are nice, but after awhile you'll feel guilty about taking advantage of it. You'll develop a nice bond with your co-workers because you sort of feel like you're going through the same struggles. The employees are all really well qualified, so the recruiting department does a really nice job.
Cons
They have a "run lean" mantra, which basically means everyone is overworked and they know it. They let the veteran employees/knowledge holders walk out the door because they are burnt out. This leaves giant knowledge gaps in key technical areas and the executives let it happen way too easily. You'd figure with that kind of stress you'd get a good amount of time off, right? It's actually the opposite. Not only will you have to work overtime much of the year, but you only get 10 days off per year (that's vacation and sick days combined). There have also been instances where they deny you time off until you get projects finished, or in the event that you do manage to get a day off, they might call you to come back in with an "emergency." It seems like they'd really prefer that you use up all of your "healthy days" between February and April. Lastly, the performance reviews and compensation increases are impossible to predict. I had two in 5 years. I did receive a nice raise once, but my starting pay was very low. By the time I received the raise it was still not commensurate with my job duties/responsibilities and then they hold the comp increase over your head for awhile making it nearly impossible to get another one without waiting for quite awhile. To sum it up, when it comes to having "delighted employees" they sure do talk the talk, but they absolutely do not walk the walk. Over promise, under deliver.