It had been known that when blood clotted, a vasoconstrictor was released in serum & this was a nuisance in studies in late 1940's during searches for vasoconstrictors. In 1948, it was crystallised & named serotonin & soon found to be 5-HT.
Also, the substance that produces peculiar histochemical properties to enterochromaffin cells of GIT mucosa was discovered to be a GIT stimulating factor & was called enteramine in late 1930's, this was shown to be 5-HT in 1952.
5-HT was discovered in brain & led to observations that LSD & other potent hallucinogens were structurally similar to 5-HT & inhib. smooth muscle responses to 5-HT in 1953, & reserpine found to lower [5-HT] in brain in 1957.
5-HT, like histamine, is widely distributed in animal & plant kingdoms & also present in many venoms (eg. nettle, wasp, scorpion). In addition, there are natural congeners with varying degrees of periph. & central 5-HT activity: