Firebase was founded in 2011 and acquired by Google in 2014. It launched Cloud Firestore in 2017. Realtime Database is Firebase's original database that stores data in a JSON tree structure, while Cloud Firestore is newer and stores data in documents within collections. Both provide real-time updates and offline support on mobile and web. Cloud Firestore has more powerful querying, transactions, and security features but was still in beta, while Realtime Database is more reliable but has fewer features and scales data differently.