Pros
Casual environment. Pay is decent (above average, but not top-of-the-valley). Some good, smart engineers - especially some of the new blood hired in the past year. Depending on the manager, some ability to work from home. Finally (as of 2014) found a viable sales direction which seems to be working.
Cons
Bulk of the code is ancient (.NET) with low-performing "specialists" kept around to patch it. Newer code is a mix of modern technologies, but still no focus on scalability. Top-level engineering management has no leadership skills - CTO is a CTO only because his business card says so. Terrible office location - middle of nowhere South SF. Well below Silicon Valley standards for accommodations and perks - only catered food twice per week with no restaurants within walking distance, no "special" benefits to speak of, crappy cubes, old laptops...