Pros
Shutterfly's senior management team totally empowers their employees so you can really see a project through from start to finish. Unlike other companies I have worked at, Senior Mgmt also trusts their employees so you have the ability to do some amazing cutting-edge work and do not need to spend time defending past decisions. The people working here our top notch and among the brightest people I have ever interacted with. They are also super friendly and go out of their way to help out in any way they can. I am usually quite critical and maybe even a little pessimistic, but Shutterfly is awesome from an employee perspective so I LOVE working here.
Cons
There are really not too many cons I can think of. There does seem to be a lot of overlap so it is not always clear who owns what part of the business. That is really the only negative thing I can say about my experience to date.