Airbnb Inc.'s long-awaited Wall Street debut is officiallyearmarked for 2020, but thehome-share startup is charting an unconventional path to the publicmarkets.

San Francisco-based Airbnb is laying the groundwork for a directlisting rather than an initial public offering (IPO), according topeople familiar with the matter who asked not to be nameddiscussing private information. Airbnb declined to comment.

Technology startups usually choose a traditional IPO to tap into thepublic markets. However, some of the new generation of tech firmshave spent years raising private funds and don't necessarily needmoney from an IPO to expand their business. They are going publicbecause they are looking for a way to let employees and investorscash out.