Canadian entrepreneur Lorne Abony — the former CEO of Mood Media who was the youngest CEO of a company listed on the Toronto stock exchange in 2004 with FUN Technologies — is selling his Palm Beach mansion.

Abony also founded Paw.net, which became Petopia.com and was sold to Petco in 2001. The 11,519-square-foot, eight-bedroom home — at 695 S. County Road — was just reduced from $12.3 million to $11.75 million.

The classic house, designed by architect Clarence Mack, is in the estate area close to Worth Avenue. It includes a large den/home theater, a chef’s eat-in kitchen, formal dining room and indoor/outdoor entertaining spaces including an outdoor columned pavilion and an infinity pool.

The listing brokers are Paulette and Dana Koch of The Corcoran Group.