Brief history of LaTeX

LaTeX (pronounced lay-tech or lah-tech) is a Turing-complete markup language and typesetting framework used most often in the physical and mathematical sciences \cite{tex}. LaTeX dates back to 1985. TeX, the progenitor of LaTeX, dates back to 1978 when it was introduced by computer scientist and mathematician, Donald Knuth.
LaTeX is designed for typesetting mathematical notation on printed page. It enables far stricter control of elements on a page, from tables to specialized mathematical notation. LaTeX is widely used for typesetting journals, textbooks, and other structured texts.

LaTeX compilers move online

In recent years, several LaTeX software options have introduced online-only versions that brings the traditional LaTeX compiler to the cloud. These solutions come with advantages and disadvantages. However, LaTeX on its own remains problematic for producing web-native content. This is because it's difficult to determine how text will look online if typeset using LaTeX.
Online LaTeX compilers remove the need for collaborators to install local instances. This advantage cannot be overstated. It removes a big headache related to local compiling of LaTeX code. In addition, online LaTeX compilers provide centralized package support. This means that every collaborator is able to work with the same support for LaTeX packages, eliminating issues that arise from having different local installations of LaTeX.

Why online LaTeX editors are still limiting

Online LaTeX is still LaTeX. The usual frustrations and grievances remain in place no matter what. LaTeX is finicky and requires time to debug. It looks really good on the printed page, but not on the web. Getting LaTeX to look good on the web is an exercise in frustration that many LaTeX users have experienced at one point or another. 
The two pure online LaTeX compilers out there are ShareLaTeX and Overleaf. ShareLaTeX has a much larger userbase, while Overleaf specializes in providing templates. Online LaTeX providers are making LaTeX easier to use collaboratively.

Alternative options for online LaTeX editors

Authorea provides the only web-based LaTeX environment that also supports rich-text and Markdown in the same document. Authorea supports all three markup languages. This is because multi-disciplinary research often brings people with different writing styles together.
It's clear that pure LaTeX remains useful for many. Authorea has created the next generation editor that provides a format-neutral platform for researchers to collaborate on.

Further Reading

How is Authorea different from ShareLaTeX and Overleaf?
MathML on the Web, Please!