Pros
Working for a winner is what I liked about eBags. eBags record speaks for itself. Over nine years, it grew from nothing to about $100 million in revenues on very little money. It became consistently profitable in 2002. During a time when so many heavily funded e-retailers and Internet startups went bankrupt (Webvan, PlantRX, Boo.com, MVP.com -- you name it), eBags thrived. It never had to go back to the well for new financing, preserving all the stock option value for past and current employees. Sure, eBags made a few mistakes, but it also pulled the plug fast on ideas when they didn't work. Some of the real innovations eBags propelled, which I think are notable include: first to do drop ship in bags, one of the first five e-retailers to capture consumer written product reviews, one of the first to manage promo emails, one of the first to do an inhouse photo studio, one of the first to do video within a retail environment. The company was very nimble and capable of moving from one marketing trend to another, as spam filters came up, Google overtook Yahoo, and other gyrations rocked the online world.
Cons
You need to be able to roll with the punches if you work at eBags. Internet trends change fast, and you need to be able to adapt to them. SEO changes. Google algorythms change. You just need to be an open minded thinker.