Yes, Google has a graveyard of failed projects.

Some of such projects had cost them tens of millions of dollars and yet got eventually shut down. Google+, Google Hangouts, Google Buzz, Google Answers, Google Prints lay in the Google cemetery, amongst others of the 167 failed and killed projects.

Success surely cannot be guaranteed in spite of funds, top notch team and access to market. The most innovative company in the world has taught us that.