It's nearly two years since Sydney-headquartered software firm Atlassian cemented its status as Australia's pre-eminent technology business with its wildly successful IPO on the Nasdaq.

The company's decision to bypass the ASX and list in the US caused some consternation at the time, but it remains difficult to fault. It is not uncommon for big international tech companies to list in the US rather than their home country - China's Alibaba did it, it looks like Sweden's Spotify will too.

But for the best evidence that Atlassian made the right call, look no further than its share price, which quietly rose to its highest level since listing this week.

As this column was published, Atlassian's market value was above $US9 billion ($11.3 billion), greater than some corporate icons including Qantas, the owner of the ASX itself, and News Corp.