Pros
The people that are hired are carefully screened for personality fit so, chances are you're going to love who you are working with. There's a strong life/work balance in that at 6pm the company turns into a ghost town. You'll wear a million hats and learn a million different things that have nothing to do with why you were hired but will grow you as an employee. Starbucks on site and a $3 lunch buffet.
Cons
It is hard to get a raise or a promotion unless you're a favorite. Compensation is well below the median. Titles don't mean anything. It's a very top/down micro managed environment. Be prepared to not actually make any decisions and hand all decision making over to the company owners. And for some reason managers with awful reputations and 100% annual turnover rates seem to be the most successful. Turnover is very high.