Pros
Average benefits, average salary. Ok place to stick around if you're an average engineer and can't get into any top tier companies or startups. Reflected in the people working there..mostly people who've been there for 10 years, or fresh grads who didn't get a job anywhere else or VPs that have failed at microsoft or yahoo..
Cons
Avoid the search backend team..they have been working on a rewrite of the search engine for past 2 years and still haven't launched even a first version..All star engineers have been fired or been victims of internal politics. The management has brought in new VPs and management who are their friends but have no experience running a silicon valley company. The upper management/CTO are completely blind to this...amazing how they can't see that the ship is sinking as the key people are leaving and its being run by low-performing political jockies..