Wave has not seen the user adoption we would have liked. We don’t plan to continue developing Wave as a standalone product, but we will maintain the site at least through the end of the year and extend the technology for use in other Google projects.
Well, it's not a big deal when a product is put in the dead pool, especially nowadays. But there is one thing which is interesting here: Google is really fast in terms of their search engine response time and in terms of the corporation's actions. Google Wave, when it was announced in May 2009 it was believed to be the "email killer" and even the "Facebook killer". The Google Team were very excited about Google Wave (and clearly, Google Wave has a lot of innovative technologies). But then the buzz decreased day by day because users don't find it useful. Then... Boom! Google decided to stop developing the product and move on to the next big thing. Well, with a large company like Google, admitting a failure is such a brave thing. Way to go!
Thanks to my buddy Iqraam for pointing out my grammatical mistakes. Way to go, man!