Pros
*Very easy to get an internship at *Since the entry bar is low, you'll meet down-to-earth people that can be good friends *Good for anyone who's having trouble finding a developer job elsewhere. It really boosts your resume. *It can lead to a contract job at a big company
Cons
This company will show just how awfully a company can be run. For starters, you can't expect to make any money as soon you are hired. Once you finish your internship, they promise you that they'll compensate you based on your performance...which is a lie. They will very likely try to pay you minimum wage if they can. People are constantly coming in and going out because no one ever feels like this is a stable job. Those that stay, are most likely obligated through their Visa obligations.