“…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.”
Google has made the code that powered the service’s marquee features, like drag-and-drop and character-by-character live typing, available as open source. It’s also promised to create tools that will let people easily retrieve information they’ve put into Wave.
It’s unfortunate. When I first created an account, I found that most of my co-workers didn’t have one. By the time they did, I had lost interest. Good on Google for making much of the core code available.