Pros
The company brings in some heavy hitting clients with interesting projects. There is travel opportunities for projects and conferences. There are good people on the team who make the office fun. There is a big building the company works out of that they pretty much have the run of. There are perks like ping pong and beer on tap. Some people keep up the public culture of fun and professional. The whole company is invited to a vacation in the Dominican Republic once a year. They pay for things like decent chairs and monitors and things like keyboard and mouse if you want them with the macbook they give you.
Cons
The two owners are the only management and only one of them appears to do anything related to the people at the company. There aren't any documented procedures that the company has or follows. The developers and designers don't get skills reviews or anyone they talk to about performance. There is no hiring process and introducing new people to the company and how they should work doesn't happen. Pay scale is not related to skills or how well a staff member is doing, and no documented way for anyone to move up. Some staff seem to be talked more negative about than others from ownership level. Gossip is very prevalent in the culture.