This research seeks to discover how quality and agility can be achieved in Internet speed software development. The study is being conducted in multiple phases. During phase 1, detailed case studies of Internet software development were conducted with 10 companies. In phase 2, a Discovery Colloquium was held to synthesize knowledge on innovative practices for quality and agility in Internet software development. During phase 3, the objective is to develop a contingency framework that characterizes choice and effectiveness of the practices based upon the insights from the prior two phases and through a second round of interviews with the original companies (still in business) and with selected additional companies from phase 2. This paper reports on findings on the use of agile methodologies that have emerged from phase 2, the Discovery Colloquium, as presented within the larger context of the study.