Pros
Since its a small company, more responsibilities and larger workload are assigned to each employee compared to working in a larger company, which can prove to be a very good learning experience.
Kontras
The management system is poor. Not sure if the case is similar in other startups as well, but there is no proper point system for giving performance reviews/salary increments.For any good work done, there is never any formal (or informal) appreciation or praise For a new employee, there is no formal probation period or ramp up period. Also employees are fired without any prior formal warnings when the company starts running low on new projects.