Pros
It's actually a truly innovative place; that's not just banter (like most other software companies). Very democratic; EVERYTHING open to discussion Very relaxed management style; hands-off unless something is urgent Their customer satisfaction rate is through the roof. This means that customers take you more seriously too, and you are free to set the standard as quality, not quantity of stories. They are ROWE (results oriented work environment)--this means they don't care where you work or how many hours you work, as long as you keep your customers happy. Flexible, always learning and changing. Not dogmatic or stuck on things. (Although, if they have discovered something that works really well, they're not likely to change.) High on communication with client (and with management to you), which reduces many problems.
Cons
They are ROWE. This means if you screw up, you eat it. No concept of "job security." If you're a low performer, shape up, or ship out. Harsh verbal feedback (albeit only in private and only once in a while, when you need correcting)