Why doesn't the Android Studio splash screen disappear?

I installed Android Studio (as of 5/8/2016) on Windows 7. The installer seemed to work fine and the application even showed up in Control Panel > Programs and Features > uninstall list. However, when I launch the application, the progress bar reaches close to the end (see yellow), but doesn't quite finish. There weren't any errors in the Event Log. Any ideas what may be causing this?

Last week, I installed on Windows 10 just fine. So this seems odd.

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