Pros
You aren't held back and are often encouraged to branch out to do and learn more. No micromanaging, and treated as a professional. They promote a self driven atmosphere by allowing you a lot of freedom to work on projects and attend trainings to learn more products. Really friendly and easy going environment. CEO is personable and really down to earth. He cares about what the employees say and often implements things from feedback he's received.
Cons
There's no raise structure, so it's up to you to ask for a raise. Then they will determine if you've done enough to actually get the raise because there's no goals to reach or performance markers to hit. It makes it hard for the employee as well as the managers because it's difficult to give a raise when there's not a measurable statistic showing how successful the employee has or hasn't been.