Etsy, an online marketplace that sells all sorts of arts and craft pieces, could become a public company as early as this quarter.

Bloomberg reports that Etsy wants to raise $300 million through an intial public offering (IPO), a source said.  If Etsy is successful in raising the $300 million, it would be the biggest New York startup to IPO in well over 10 years.

In June, Etsy took an employee from Pandora to help the company improve its mobile presence, The Verge reports. As a result, there have been question marks about when the company would finally do an IPO.

Now, it appears that Etsy will go up against recent IPOs like Pandora, LinkedIn and Twitter. The IPO could come before the end of Quarter 1. They are working with Morgan Stanley and Goldman Sachs to get it done.

If Etsy's IPO is as successful as most think, New York startups like Gilt and Fab.com could follow suit. 

Etsy is not a new company. They have been around since 2005 and has turned a profit every year since 2009, according to Business Insider. The company has 580 employees.

In 2013, Etsy grossed $1.35 billion in sales. Artists of all kinds share their wares through Etsy; it's very similar to eBay, without bidding. Members of Etsy only have to pay 20 cents to list an item for sale. As of Wednesday morning, there were over 26 million listings from over 1 million different active sellers.

When a member sells something on Etsy they give the company back 3.5 percent. If an artist has a nice $100 clay pot, they get to keep $96.30, after the fees, if the item sells.

The price per share of Etsy stock is unknown as of right now.