Pros
Casual dress code and open leave, which is grossly abused most by people who don't deserve it. Unlimited coffee and aspirin, which you will need if you decide to work here.
Cons
You will feel overworked, underpaid and unappreciated. Upper management spends all of their time coming up with new product initiatives that will lead to you putting in hours and hours of work, only for them to realize later that their idea was horrible. This means all of your work was for nothing, and now you are behind on the rest of your workload.
In my four years there, there was a constant turnaround of employees. Chances are, if you left and returned six months later, you would barely recognize anyone. This is because so many employees leave before they become completely demoralized.
There is also constant reorganization of departments, which leads to confusion throughout the company and gaps in responsibilities. After someone is "promoted" (more responsibilities, very rarely a pay raise), no one seems to know whose job it is to fulfill the duties of the position left behind. This usually results in those responsibilities being dumped on some poor employee who did NOT receive a "promotion", but still received extra responsibilities and no pay raise.
The morale was horrible. On a typical day, you will see employees moping around looking stressed, exhausted and defeated. If you enjoy your job here, it is because you are upper management and enjoy the fact that other people are killing themselves to make you look good or you are working off commission that actually works in your favor (which is rare).