Pros
Not much to be honest. Maybe that once in a while you can work with couple of talented colleagues who will leave the company very quickly as they get to know the culture.
Cons
Many cons I can think of. The main problem here is the CEO himself. He has not worked in any real company before thus he doesn’t have a clear understanding of how a business is run. He must control every single piece of work by every employee and since he can’t do that, he is afraid of expanding the company. It doesn’t matter how good your work is, he will change it with some non existing standard. No discipline is in place, no plan and no vision. People just do some work to get around the hours and leave until the next day. Some employees work over 14 hrs per day and there is no recognition. There is also a toxic culture and time to time people clash with each other. My advise is to avoid this place by all means. Backbiting is a norm, and constant mistake is also a very common thing among folks. There is no planning, no real software development and testing. Imagine having new builds in a week! Hardcoding in the middle of a release candidate and pushing it out to clients with zero testing. Who should stay all day long to fix it? The employee. The CEO just pushes out whatever is available every day and disregarding the consequences. These are real problem here. So, if you want to start working in a complete mess with zero discipline, then this could be the best place for you!