Pros
Very good benefits. Fantastic (a little too good) work life balance (people leave promptly at 5pm). Good downtown Chicago location w/ easy access to central commuter facilities. Great gym and exercise facility. Great market segment (location based services - but depends on how you market yourself). Good place to build up your skills, finish your education, and look for a new job.
Cons
Virtually no chance of promotions beyond the senior manager, director level position - Company is too top heavy and has layers and layers of hierarchy and bureaucracy (esp. in the product management org.) Very slow moving, no urgency to put products out of the door. Very poor decision making. High levels of wasteful spending on excesses (unnecessary offsite meetings, lunches ordered for internal meetings, abuse of cell phone privileges, etc.) Lack of awareness of leading internet trends, consumer insights or changing dynamics of the wireless market. Company still regards itself as a leader in the location content space even though competitors are moving faster and innovating.