TikTok mission is to have a place where someone can come and create a short videos that inspires creativity and brings joy to others. https://www.tiktok.com/about?lang=en
Investopedia says that TikTok is, “a popular social media app that allows users to create, watch, and share 15-second videos shot on cellphones. With its personalized feeds of quirky short videos set to music and sound effects, the app is notable for its addictive quality and high levels of engagement. Amateur and professional creators alike can add effects like filters, background music, and stickers to their videos, and can collaborate on content and create split-screen duet videos even if they’re in different locations.” Which I think this explains it much better then what TikTok says about themselves.
Interesting fact: Did you know TikTok was formally Musical.ly?