It is weird how little information there is about the acquisition. An HN comment from a month ago has links to evidence the acquisition took place: https://news.ycombinator.com/item?id=36015157. The title of the official LinkedIn page (https://archive.is/uqBnf) says "Gfycat (acquired by Snap Inc)". It looks like it really happened, just quietly.
There is something funny about Snap buying a company and then setting a timer to delete all the videos. Shame about the data loss.