Pros
OwnLocal is the most upbeat environment I've encountered after twenty years in the industry.The people are smart, responsible, and fun-loving. Control structures are loose and egalitarian; executives sit on the floor with engineers and salespeople. The culture encourages and celebrates success. Most organizations this size are rife with gossip and office politics, so I keep expecting the other shoe to drop, but it hasn't.
If you have a lot of industry experience, you will be able to make a strong mark at OwnLocal because senior management is incredibly open and responsive to feedback. Self-honesty reigns here. If you're more on the junior side, you'll enjoy the organization because your voice will still be heard and you'll be teamed with talented engineers from whom to learn.
And, of course, the perks: 24/7 parking, infinite Starbucks, great location, and an endless number of celebratory events.
Cons
OwnLocal is still working to properly formulate its engineering and product organizations. Engineering has improved significantly in just a quarter - in particular, by clustering into small initiative-driven teams and streamlining their hiring processes a bit.
While not exactly a con, the transparency at OwnLocal can be occasionally shocking. Financials are made available to every employee. Salary structures are also public, which is unusual at a company this size. Senior management will admit to mistakes and flaws. Leave your optical game at the front door.