Pros
SimpliVity positioned itself as a startup driving towards an IPO for several years. It was a company with a unique culture driven by the CEO who was very process oriented and a believer in hard work. Some employees were expected to work long hours during the week and to be available all weekend. "Fun" was never part of the equation, but employees were motivated by the desire to be a leader in the hyper convergence technology space. I cannot speak for the culture after the company was acquired by HPE, but have heard from others that once the CEO left it was no longer the same company.
Cons
Even when it was pretty clear that an IPO was not happening, the senior management team continued to state that it was driving to an IPO. Some employees felt betrayed even if this was the best possible outcome at that point.