Following numerous delays regarding the release of Azealia Banks' Broke With Expensive Taste
album, the rapper announced in mid-July 2014 that after a long battle, she had parted ways with Interscope. She penned this song as a hit to please her label prior to her departure. "It got to a point where they [Interscope] were like, 'Azealia, we get it, you're cool, but we've spent $2 million on this record, can you just give us one [hit]?' So then I did 'Chasing Time,' and I was just like, 'You know, this isn't gonna work out,'" Banks told Pitchfork
. "It was like that awkward point in a relationship where you're forcing yourself to have sex because you're like, 'We live here, we're sleeping in bed, it's awkward if we don't."