Pros
You can work from home if needed. They are generally understand when you have to take an afternoon off or need a day to take care of something.
Cons
Management enjoys putting up a curtain where the outlook is bright and promising. They seem to have thrown away the advantage of having a young startup culture in favor of a typical hedge fund or bank. Behind this curtain, a large amount of (for lack of better word) plotting is occurring. Decisions that would affect your lively hood will be made with no consideration at hand. Many things that would have negatively affected me only came to light after my departure from other departing employees. When morale is high things are great, but things can quickly turn sour and when morale starts to drop it tends to plummet. Not a lot of opportunities for advancement or raises being a young startup. Many employees have left after a year for other opportunities. Turn-over rate in general is extremely high and that alone should set off alarm bells. Perhaps worst of all, when things take a turn for the worse with clients, management will mysteriously go on business meetings or travel for business overseas leaving underlings to shoulder the blame.