ChefNet does not sell equity directly today. Participants make convertible contributions under SAFE-type instruments; these may convert to company equity at a future qualifying event (typically the Public IPO round or a qualified financing round) under the SAFE agreement terms.
A Simple Agreement for Future Equity (SAFE) is a contract. You contribute money today. In exchange, you get the right to receive equity later — at a qualifying event defined in the contract. You are not a shareholder until the SAFE converts.
Conversion is triggered by the events defined in the SAFE agreement. In ChefNet's case, the designed conversion event is the Public IPO round, which is the final stage in the published roadmap. A qualified financing round may also trigger conversion under the SAFE terms.
The exact mechanism — valuation cap, discount, share class on conversion — is defined in the SAFE agreement. It is the same agreement for every participant in a given round; there are no hidden side deals. Review the SAFE document linked from Terms before participating.
If no qualifying conversion event occurs, the SAFE may not convert. Participants may lose part or all of their contribution. This is the principal risk and is disclosed on the Risks and Disclaimer pages.
No. A SAFE contribution gives you a contractual right to receive equity at a future qualifying event — not equity itself. You become a shareholder only after the SAFE converts.
Conversion is triggered by the events defined in the SAFE agreement — typically the Public IPO round or a qualified financing round. ChefNet does not publish a fixed conversion date.
The conversion price is set by the SAFE agreement, usually as a function of a valuation cap and/or discount applied to the qualifying event's price. The exact mechanism is in the SAFE document you sign before participating.
If no qualifying event happens within the term of the SAFE, the participant may lose part or all of the contribution. This is the principal risk of pre-IPO SAFE participation and is disclosed before any contribution.