The big name behind the movie is Jaume Collet-Serra, director of Orphan, the House of Wax remake, and two Liam Neeson action flicks - Non-Stop and Unknown. Unfortunately, he's only an executive producer here, and newbie Pablo Larcuen takes the lead behind the camera - or, uh, phone. The overall film is really not much different than pretty much every other found footage movie out there. The look is the same and despite the use of a phone instead of a camera, it is actually quite competently shot. Though there isn't anything really new to be experienced here, they hit all the right beats that a found footage movie should, and I actually like the general story they came up with for the antagonist.
The biggest problem with Hooked Up is that the movie actually gets worse as the plot gets more exciting. While the film actually started out as a mildly interesting and serious approach to the subgenre, the acting, the dialogue, and the storytelling goes majorly downhill once the boys find themselves in real trouble. The natural way of acting that really helps in found footage movies is something that the two actors never really get exactly right anyway, but it definitely doesn't get any better when they have to act scared and fighting for their lives. At times their line deliveries are so exaggerated that it almost feels like they are doing parody of or making fun of found footage.
I'll give Hooked Up an A for effort because of the fact that it was filmed with an iPhone and doesn't really look it. Still, the overall film is not that impressive and does not stand up well to other found footage movies out there.