Pros
Very casual atmosphere, everyone is on a first-name basis and the management always state their willingness to hear feedback from employees. Many employees work from home, and flex-time means that even hourly employees can take time off when they need to. The company is growing very rapidly. The benefits are good, basic health care is covered 100%, 401K matching vests immediately, and everyone gets a ham for Christmas. Sales are treated well and well compensated.
Cons
Turnover is very high. Long-term employees are fired when a quarter's numbers are bad, and sometimes the positions are not backfilled, or not for a long delay, so those who are left get burned out. The company lacks the support staff it needs. For example, HR department is only one person, and they had 3 people in that role in <2 years. Equally high turnover in IT and marketing. They refuse to pay for training and promise (but don't often deliver) opportunities for advancement. Many positions are filled with friends of the CEO or relatives of the owners.