Full error from EventID: 15005
Unable to bind to the underlying transport for [::]:80. The IP Listen-Only list may contain a reference to an interface which may not exist on this machine. The data field contains the error number.
First check to see what is listening on port 80. Open a command prompt and enter the following command:
netstat -ano | find ":80"
In this case process ID 4228 was listening on port 80. To check what this process is open task manager and locate that PID. (Note you may need to select View -> Select columns -> PID first).
It turns out a developer installed Apache which was listening on port 80 and causing a conflict. To resolve the conflict change one service to run on a different port or uninstall the unnecessary web server.