Pros
This company went from being the darling of Los Angeles media tech to a shell of its former self in the period of time it took Google to walk across the room and click "change algorithm." In one fell swoop the audience had been driven out of their media brands and with it, revenue and market cap. Perhaps it was a blessing in disguise because it caused the company to rethink its years of crappy content and is now in the middle of a massive transformation with a clear mission/vision on high quality. But while that alone would send most recruits running, they are not the people who Demand Media are looking for. The biggest solvable problems at the company are actually the biggest opportunities and for those who jump in feet first and make it happen they can be part of a massive turnaround. Recruiting has tightened up, ergo the pool of candidates and employees have become sharper. The pros to working for this company are in the details. Investments are being made in the business units and it would mostly depend which business hires you. It would be worth reading the company earnings call transcript to get a full understanding of how this shift is happening under completely new management. Should be noted that many, if not most, of the reviews on Glassdoor are from any one of the thousands of writers who wrote articles for the studio. While their opinions matter it should be understood that their connectivity to Demand Media the company is limited only to their freelance writing assignments and their relationship to the editor. They are not employees in the sense that they work at the office, participate in company All Hands meetings and contribute to the overall corporate culture. And yes, there are plenty of yummy treats at the company that if you didn't leave with diabetes or alcoholism, you'll leave a little heavier.
Cons
A start-up culture had returned to the company. Most people are not up for the do-lots-with-little mentality and if you can't live with a some resource ambiguity, this might be the right place. More is being expected of people to work smarter. Morale has been low in the past but seems to be improving.