Despite spending roughly $700 million a year in research and development, the microblogging company's main offering has stayed virtually the same over the past decade
Trump made the remarks after issuing an executive order banning transactions with TikTok's Chinese parent Bytedance
Articles from partner media outlets that were perceived as critical of the Chinese government would either not be republished on the BaBe app or would be taken down from the app
Here are the top headlines of the day
The government in June banned 59 Chinese apps, including TikTok and WeChat, for threatening its "sovereignty and integrity" after border tensions with China
Trump signed an order last week prohibiting transactions with TikTok if its parent ByteDance does not reach a deal to divest it in 45 days
TikTok, owned by China's ByteDance, is already under investigation over privacy concerns by US, European Union and Dutch authorities
Microsoft is negotiating a transition period that will give it time to ringfence TikTok technologically from ByteDance after they agree to a deal, Reuters reported on Aug 2
It isn't certain Twitter would be able to outbid Microsoft and complete such a transformative deal in the 45 days that President Trump has given ByteDance to agree to a sale
Some advertisers are forming contingency plans and considering other apps to move their marketing budgets
Zhang, whose ByteDance Ltd owns TikTok, was on the verge of building the world's third truly global advertising and social-media force
Tiktok has come under fire from US lawmakers and the administration over national security concerning data collection
The order says the US "must take aggressive action against the owners of TikTok to protect our national security", BBC reported
India has banned as many as 106 Chinese apps, including TikTok, a move welcomed by both the Trump administration and the US lawmakers
One person close to ByteDance in India said there was a "deal in the works" with Microsoft for TikTok India but it fell through, according to the report
TikTok could try to lower the risk for an acquirer by striking multiyear exclusive deals with its most popular American creators, the way that platforms like YouTube and Twitch have done
Trump's demand has set off a geopolitical tug-of-war, but it has ample precedent
For a deal to work, they say, US firm will have to accept data localisation and keep servers in India
He said a government probe into the company's 2017 purchase of Musical.ly, - TikTok's progenitor - was intended to spur a complete shutout
The letter was sent only to ByteDance's Chinese employees after news that ByteDance was in talks to sell parts of TikTok to Microsoft Corp