The service could not bind instance 1.
If you get the the following error in your EventLog:
The service could not bind instance 1. The data is the error code.
For additional information specific to this message please visit the Microsoft Online Support site located at:
Here is also a screenshot of what the error looks like:
Then there is some other application hogging port 80 or 443 (if you are using SSL). In my case it was Skype. So I just went into the Tools\Options\Connection in Skype and unticked the 'Use port 80 and 443 as alternatives for incoming connections' option.
