Etsy, the eBay for arts and crafts, is set to see $400 million worth of business on its site this year, the New York Times reports.

      Of that $400 million, Etsy's slice of revenue will be in the range of $30-$50 million. It generates revenue from listing fees, processing fees, and other fees like prominent display for what people are selling.

      Etsy says it has been profitable for a year now.

      Etsy's $400 million in transactions is puny in comparison to eBay, which is going to do billions in transactions this year.

      But, Etsy is focused on a much smaller niche. Generally, it's hand made crafts.

      Last time we checked in with Etsy was November 2009, and its gross sales were $130 million, which means gross sales have more than doubled in the last year.

      We also took a photo tour of Etsy's Brooklyn offices, which you don't want to miss.

Source from SFGate