Pros
The product is quite innovative, so people can get hands on experience of creating a new species of product, as well as working on the branding stuff from ground. Founders and manager level people are extremely passionate about what they do. Since it's still a small team, people can form an intimate and open work culture which I really enjoy. Besides, I'm a strong believer of the commercial potential of this product if it succeeded.
Cons
The time difference with the off shore team is certainly challenging if we all want to keep a fast pace, so we need do some after hour calls or meetings regularly, also, to deal with different culture from a different country can be another serious challenge, if not handled well, it can really p**s off some people, which had happened before.