According to the Google guys, the company's name comes from the word 'googol' which is actually a number invented by Milton Sirotta. Probably the Google name is related to the number of the results provided by the search technology which is usually huge.
"The name 'Google' is a play on the word 'googol,' coined by Milton Sirotta, nephew of American mathematician Edward Kasner. A 'googol' refers to the number represented by a 1 followed by 100 zeros. It's a very large number. In fact, there isn't a googol of anything in the universe