Pros
Small company, everyone's on friendly terms with each other. Dealings with customers are very informal. It's a bit like the town's corner sweet shop, but for websites. New things are occasionally tried out, with (wildly) varying degrees of success. Before mister boss decided to fire the middle management problems were somewhat being addressed.
Cons
The bossman can barely use a computer and has no idea what he's talking about yet micromanages everything, goes off on a rampage in the middle of the office every other week, and changes his mind about the direction of the business at least twice that often. Occasionally fires people after one of his rampages, which has now led him to the point where there's almost no one left. Has also been known to phone up people's new employers after they leave, and surprise, surprise, it's not to say nice things about them. If you care about your career, I can't honestly recommend this place.