Pros
Friendly and informal work environment, very horizontal structure. Deals with a varied selection of technologies, from basic LAMP to enterprise development to mobile projects. The company invests in training and sponsors individual projects and R&D efforts.
Cons
Pay isn't amazing, but there are more rewards than money. Small company means some people will have to work on multiple projects simultaneously. No dedicated QA team, so engineers' time has to be spent on testing instead of development.