For all we know it did. We believe that the Earth is 4.5 billion years old but it’s estimated that conditions suitable for life only appeared about 200 million years after that. Since the oldest fossils we’ve found are 3.7 billion years old, there is a 600 million year gap between when we think life could have formed and out earliest records of it.

There is every possibility that life formed multiple times in different environments on Earth in those first few hundred million years and then been wiped out by one of the frequent cataclysms that ravaged the early Earth. We have no way of knowing though. If life formed around a volcanic vent and then got wiped out by a meteor impact there would be no evidence it ever happened. Even if such life was wiped out by a climatic shift or something like that, there still wouldn’t likely be much evidence left if any right now. The Earth’s surface has been changed so much in the last 3.7 billion years, there are very few areas older than that where such fossil records from before that could be found.