The application has failed to start because its side by side configuration is incorrect. Please see the application event log for more detail.
The fix is easy.
For me all I had to do was download the Microsoft Visual C++ 2008 SP1 Redistributable Package (x64) and install it.
It took a second, but Blender started up just great after installation (there is an installation process, give it a few minutes and installation screens start up).