TikTok considers moving headquarters outside of US

ByteDance, the parent firm of TikTok, is considering moving TikTok’s headquarters outside of the US, the company said on Tuesday.

"ByteDance is committed to being a global company. In light of the current situation, ByteDance has been evaluating the possibility of establishing TikTok's headquarters outside of the US, to better serve our global users," the company said in a statement. 

London has been tipped as one option for TikTok as the social-media app looks to broaden its international reach. The city is already the regional base of ByteDance's operations in Europe, and about 800 of the company's 1,000-strong European workforce is in the UK and Ireland, media reported.

US President Donald Trump said he would allow an American company to acquire TikTok if it can find a buyer by September 15. Trump also said that any deal would have to include a "substantial amount of money" coming to the US Treasury.

Microsoft is in talks for the acquisition of TikTok’s business in the United States, Canada, Australia and New Zealand, the company said in a statement on Monday.