Value cannot be null. Parameter name: virtualPath - Sitecore

I have created a new site in sitecore site config section:

<site name="site2" hostName="website.local" virtualFolder="/oscar-dresses" physicalFolder="/" rootPath="/sitecore/content" targetHostName="website.local" startItem="/Oscar Dresses" database="web" domain="extranet" allowDebug="true" cacheHtml="true" htmlCacheSize="10MB" registryCacheSize="0" viewStateCacheSize="0" xslCacheSize="5MB" filteredItemsCacheSize="2MB" enablePreview="true" enableWebEdit="true" enableDebugger="true" disableClientData="false" />
<site name="website" virtualFolder="/" physicalFolder="/" rootPath="/sitecore/content" hostName="website.local" targetHostName="website.local" startItem="/home" database="web" domain="extranet" allowDebug="true" cacheHtml="true" htmlCacheSize="10MB" registryCacheSize="0" viewStateCacheSize="0" xslCacheSize="5MB" filteredItemsCacheSize="2MB" enablePreview="true" enableWebEdit="true" enableDebugger="true" disableClientData="false" />

Once I added the new site in config and when i go to http://ift.tt/16mv4Bn. I get Value cannot be null. Parameter name: virtualPath. Am i missing something? Its working fine in preview mode from sitecore.

Any suggestion will be appreciated.