Pros
I worked as a story editor on the content team, curating submitted snaps for their Live Stories. There are really good benefits and perks — you don't have to pay into healthcare, the snacks are pretty sweet, there are occasional activities like free group workout classes. You feel like you're working at one of the most exciting companies in the world. You can have a pretty big say in projects even without a ton of past work experience; Snapchat generally values the input and creativity of its employees, and wants be cooler and more innovative than anywhere else and that led to some really fruitful creative work. The pay is really good.
Cons
Horrific and irregular hours, far worse than initially advertised in the job description. It was not uncommon to work on both overnight and daytime shifts in the same week, which was nuts and totally destabilized any ability to have a social life outside of work. That's something that not might be visible from the outside, but attention toward employee wellness in this respect was minimal. There's a lack of diversity in the company overall — the content team at one point was definitely one of the more diverse teams (racially + gender-wise) but leadership and management is vastly white and male, which led to interpersonal issues and some tone-deafness in regard to content decisions. A relatively flat organizational structure meant it was difficult to get promoted or see the potential for a longer-term career ladder.