Accessing localhost: Internet Explorer cannot display the webpage

I just downloaded WebMatrix 2 (I am new to this) and installed the "Starter Site" to get a better idea how it works. When I try to view it in my browser (http://localhost:53482/) I receive the message "Internet Explorer cannot display the webpage". If I try to view just "http://localhost/" I get a 404 error. Could someone advise me how to go about determining the problem and correcting it? Thank you.