Pros
You will obtain a wide range of experience. You will also gain some experienced with a fast paced work environment. The atmosphere is comfortable and laid back. For the most part you will get along with everyone. Casual dress code is a plus. PTO and sick leave is good, and they are flexible with bending that a bit. It is a great place to start you career and gain experience.
Cons
New technologies and tools are not being utilized to make processes seamless. Organization is lacking, and projects slip due to this. Not much room for upward movement, but this is expected with a smaller company. There is a good vision, but resources are not being allocated to make the vision happen. Benefits are sub-par. There is no 401k. These last things can also be expected at smaller companies. You may come into the job expecting development work, but end up doing administrative work. Turnover rate is a little high.