Pros
Everybody loves the product, the industry, and their job. You won't find a grumpy employee here. Recent shift to hiring high-level senior engineers has created a great development environment full of very bright people. Pain-cave, lots of motivating athletes and competitors in the house; work-life balance is strong, however, not consistent due to the amount of work and lack of resources. Very strong benefit package, especially for families. Extremely flexible work schedule focused on team-work and achieving goals together instead of individual tasks. Great open work environment for developers drives collaboration and communication. Overall, I'm very excited to come to work every morning!
Cons
Lack of high-level vision and lack of strong high-level leadership. Lack of BA and project management experience at the executive level which translates to ad-hoc projects and products started and ended on a whim. Salary is 10-30% below market for developers, and no profit-sharing / stock options / yearly bonuses or even 401K match can be demoralizing. No employee education programs.