Pros
By far the best thing about Kobo - the people. Great innovative atmosphere with fun, intelligent, driven people. Lots of opportunity to learn and develop if you seek it out and prove yourself. Also a lot of opportunity to make decisions and affect change. Good perks (extra long weekends in the summer months, happy hour, stocked kitchens, cool office and location, flexible work hours/ability to work from home) and a great benefits package. Meaningful work and product. Everyone is passionate about the industry and what we are doing.
Cons
Kobo expects a lot of it's employees which to me is a good thing but it can be challenging. If you're looking for a slower paced job or you don't thrive in a demanding environment this may not be the place for you. There has been a lot of change (as there is for any young growing company), this can be uncomfortable for some people and can understandably create uncertainty. I personally feel that things have stabilized a lot since some of the other comments here.