"[3][4] In a 2011 interview, drummer Mike Zelenko recalled that the song's guitar hook was inspired by the David Bowie single "John, I'm Only Dancing".

[6] In February the song entered the Billboard Modern Rock Tracks chart, where it spent 11 weeks, peaking at number three in April.

[7] In a retrospective review of the song, AllMusic writer Joslyn Layne called it "a signature power pop single of the early '90s" and noted that it became a "cult favorite through air play on alternative rock and college radio stations".

[4] Jeff Cloud, former bassist for Starflyer 59, named "Valerie Loves Me" as his favorite American power-pop song, saying it exemplified the era he came from.

[8] Guitarist Dan Vapid of Screeching Weasel said that the idea for "Veronica Hates Me", a song from the punk band's 1991 album My Brain Hurts, came in response to "Valerie Loves Me".